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Mama L [17]
3 years ago
9

On October 15, a company received $15,000 cash as a down payment on a consulting contract. The amount was credited to Unearned C

onsulting Revenue. By October 31, 10% of the services required by the contract were completed. The company will record consulting revenue of $1,500 from this contract for October.A. TrueB. False
Business
1 answer:
VLD [36.1K]3 years ago
3 0

Answer:

True

Explanation:

The company received $15000 and credited it to the unearned consulting Revenue accounts because it had not performed any services yet.

According to the accrual principle, the company can only report the amount earned in a period. If the company achieves the required  10% of consulting services by 31st march, it will record 10 percent of $15,000 as its income.

10 percent of $15000= 10/100 x $15000

                                     =$1500

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If a taxpayer does not have enough taxes withdrawn from her paychecks throughout the year to equal the total tax she is required
polet [3.4K]

Answer:

$209

Explanation:

Since Mary's estimated annual income taxes are $5,424, then to determine the amount that should be withheld every two weeks, all we need to do is divide her total estimated taxes by 26 weeks = $5,424 / 26 weeks = $208.62 ≈ $209. generally you do not include cents in tax filings or payments, you need to round up or down. In this case you need to round up, even software rounds the amounts to the nearest dollar.  

6 0
3 years ago
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Which of the following statements correctly describes the effects of price​ controls? A. They cause demand disruptions and could
velikii [3]

Answer:

Option a and b

Option C                

Explanation:

A . In simple words, price control refers to the  limits on the rates that can be paid for good and services produced in a marketplace that are set up and imposed by central govt.

The purpose behind these restrictions may derive from the need to preserve the availability of products even through skills shortages, and to further delay inflation, or, instead, to help ensure a guaranteed minimum income as well for manufacturers of such products or to seek to obtain a decent living wage.

B. In simple words, due to printing of new currency the supply of money ion the  market would increase which will lead to inflation in the economy which will further lead to loss in value of the existing money in hand on the individuals.

3 0
3 years ago
Xavier and Shawn are co-owners of a party-planning business. They split all of the profits 50-50 and are able to make decisions
pshichka [43]

In this instance, Xavier and Shawn are general partners. In this arrangement, all partners are equally responsible for the business, meaning they are both liable for any financial loss. LLC would protect their personal assets from this type of claim. Obviously, this isn't a sole proprietorship because there is more than one owner.

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3 years ago
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Strategic groups typically follow different business strategies. In the pharmaceutical example in this case, the high-risk, high
Bumek [7]

The pharmaceutical example whereby the high-risk, high-return strategy is employed would be characterized by: d. related diversification.

<h3>What is Related Diversification?</h3>

Related diversification can be described as a scenario whereby a firm ventures into a new industry in which there are similarities in the business lines of the new and old industry.

In most cases, related diversification, is a strategy where the existing products and services have much similarity with the new ones that are being developed.

Therefore, the pharmaceutical example whereby the high-risk, high-return strategy is employed would be characterized by: d. related diversification.

Learn more about related diversification on:

brainly.com/question/417234

4 0
2 years ago
Suppose that GDP was $250 billion in year 1 and that all other components of expenditures remained the same in year 2 except tha
nika2105 [10]

Answer:

$265 billion

Explanation:

The computation of the GDP in year 2 is shown below:

= GDP in year 1 + increase in the business inventories

= $250 billion + $15 billion

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We simply added the GDP in year 1 with the increase in the business inventories so that the GDP in year 2 could come

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